10/2/11

Rio Alto (RIO.v): It's owltime!

Reuters sez this:

Rio Alto says disruption at Peru mine now over

Oct 1 (Reuters) - A labor disruption at Rio Alto Mining Ltd's (RIO.V) La Arena gold mine in Peru has ended, an official at the small Canadian company said on Saturday.
"The illegal work stoppage is over," the official said via email.
On Thursday, the Vancouver-based miner said its 2011 gold output would be cut due to the disruption, adding it would provide an updated production forecast following the resumption of mining activities at the site.
Owly sez this:

The IKN Weekly said this (excerpts) in a Flash update to subscribers on Thursday morning just after the opening bell:
The news this morning....is of an "illegal work stoppage" at the Rio Alto (RIO.v) La Arena gold mining operation. In fact what we have there is an illegal blockade that's stopping workers from getting to the mine, and not a strike (continues). ......This blockade will blow over and will likely blow over soon, for the simple reason that (continues).......Overall, the effect on RIO.v is likely to be minor and short-lived....

There was lots more too. And oh yeah, we noted the end of the blockade Friday evening in another Flash update to subscribers, not Saturday evening like the guys over at Reuters (thanks to the the news getting out in Spanish language on the radio station right next door to the La Arena mine). But hey, DYODD,dude.

0 comments:

Post a Comment